Buying a Business, People and All

When you’re buying a going concern your accountant will tell you to look hard at the figures to understand the performance of the company.

Tony Arena reckons those figures will only give you part of the picture. He says you also need to take a good look at the people running the business. That’ll give you a better idea of the risk. Could all the clients walk when the owner leaves, for example. Or conversely, was the owner widely disliked and inhibiting the business?

Tony is the Managing Director at BCI Business Brokers and runs buyafranchise.com.au. I talk to him in today’s program about dealing with people when you’re buying a business — the owner, staff and customers.
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Testimonials

"When it was time to sell our business, BCI Brokers was the only option we would use. I had known Tony through networking and knew he was a reputable operator and a genuinely a nice guy. We placed the business on the market a year ahead of our exit plan. The business went on the market and sold within a month!
Tony’s consultant, Phil Lyons, worked on the marketing and prospective buyers. The professional service was above what we expected and didn’t end once the buyer had made the offer. Phil followed through with the settlement to ensure that everything went smoothly for both the buyer and us. He was even following up post sale.
If you are considering selling your business, don’t waste your time shopping around for a broker that doesn’t even understand business. Go straight to BCI Brokers and get the professional service that you deserve."
Susanna Palmer